Ch. 7 Bankruptcy Filed 9/6/18

I'm sure they'll get right on that.

 

Regardless how shitty it is, we all still lost a nice product. Glad I bought my hybrid when I did. At $720 nonetheless

 

Wonder if they will sell their company?? I’m in to be a buyer

 

Never thought I would consider myself lucky to have only lost 300$ in this pelfrey fiasco
I really feel for those who lost 3-5k+ because I almost did.

 

Tough situation bro

 

Has there been any verdict in the court case or is it still ongoing?

 

Communist cast. Get it right!
Lol

 

I ordered parts last November, found out they were ready in february, drove 5 hours to San Diego on my birthday to have them installed. Their shop was immaculate... tons of product, all their techs had nice ass off road trucks, everyone was super cool and they even installed the stuff I ordered on my truck. I can’t fathom how they went from the experience I had to them going under....

 

It's called spending all the money instead of investing the money. It's pretty easy to fathom... Look at MC hammer.

 

It’s ok to live large if you got it but you should never live large in anticipation of getting it...

 

Well they did and they are Piece of dog shit for doing what they did.

 

Oh I don’t disagree it’s definitely shady. It’s just mind blowing how quickly that ship sank.

 

I had paid in full the first week in February for a high clearance dual bumper with my CC. When this all went south I was worried about the 180 day rule but after two months from when I filed my claim my CC issued me a full refund yesterday.

Feeling very relieved and hoping others will be getting their money back as well!

 

"Secured Creditor" means that the creditor has put a lien or filed a UCC1 on certain assets of Pelfrey. For example: I own the company that sold Pelfrey their CNC machine and they could not pay in full so I went ahead and loaned that machine out to them but they continue to make the payments. By using the machine for collateral that helps me ensure that I get what is owed to me in the event of bankruptcy. Another easy example is the bank holding the title to your Tacoma until you have fully paid that debt back.

Unsecured vendor is exactly what it sounds like. I sent Pelfrey a truck load of steel and placed them on a 90 day note or something along those lines. They send the product to Pelfrey along with the invoice to be paid. This would be like walking in to your local fina


I work in banking (Loan Officer) so anytime I can get someone to put up collateral for a loan the underwriters are way more likely to approve it because if they do file bankruptcy that just ensures we would be able to collect on that debt.

 

So....like....any Black Friday deals going on?

 

By my understanding, they will take whatever you want to give them, and tell you that at some undetermined point in the future you will get whatever it was you wanted for said price....

 

So you're sayin' there's a chance...